Owning a Makati condominium is fun, fulfilling, and exciting at the same time. A lot of condo owners attest to that too. In this article, the reader will find practical tips and suggestions that will help him/her to find that ideal Makati condominium. If you are a reader who is looking for a condo unit, the information below would be of great help to you, since there are a lot of Makati condos for sale to choose from!
Many people either local or foreign choose to live in Makati which has caused a high demand for real estate properties especially condominiums. I could say that Makati is the place where you can experience a professional yet fun loving lifestyle.
Makati City is a major Philippine city located within the Metro Manila district, which is the capital of the country. Makati City is the premier financial district in the country, with many multinational companies, local firms, and banks having their headquarters there.
Makati is easily accessible from many parts of the city. The major thoroughfares of Metro Manila, such as the Epifanio de los Santos Avenue (or EDSA), pass through here. EDSA handles most of the city's traffic, as thousands of buses, taxis, jeepneys, and private vehicles ply this route every day; from Paranaque City in the south to Caloocan City in the north.
The South Luzon and North Luzon Expressway (SLEX and NLEX respectively), also connect to EDSA from the north and south.
A light rail train facility, called the Metro Rail Transit (MRT), straddles almost the entire length of EDSA, with stations from Pasay City in the south going to Quezon City in the north. Four of these MRT Stations are located within Makati City. If you're looking to beat traffic, the MRT is the way to go, since it has its own right of way, and it leaves at regular intervals. It is also inexpensive to Metro Manila residents, compared to having to ride a number of taxis and jeepneys going to your place of work.
There are also taxis and jeepneys that ply their routes in and out of Makati City, so there is no lack of mobility and convenience within this city.
The weather in the Philippines is more simple to classify than in other places; it is either a dry or a wet season. Yet the weather is also unpredictable due to the country being in a path of Pacific tropical cyclones. Monsoon rains also happen for the latter of part of the year, and these may cause flooding in most areas of the metropolis. Droughts are rare in the country, but they do happen occasionally.
Despite of these however, most of the time, the weather in the Philippines is humid and hot because it is close to the equator. Living in Makati city would be a good idea if one wants to have a city lifestyle in the tropics.
Makati City has some must-see places too, such as the Manila Golf Club, the Manila Polo Club, and the Makati Coliseum. If you are of a religious type, there are many churches to see here in Makati, like the Nuestra Senora de Garcia, Our Lady of Guadalupe, Santuario de San Antonio, the National Shrine of the Sacred Heart, and also a Jewish synagogue called Beth Yaacov.
One of the must see places to go to is the Ayala Museum of Philippine Art and Anthropology. This museum displays artifacts from deep in the country's past. The museum features, earthenware and china vessels that came from the country's pre-Spanish trading period with other Southeast Asian countries. Its main attraction however, is its collection of ancient gold artifacts dug up from all over the country that shows the Philippines having a rich gold jewelry tradition. This is a great place to go to if you're looking for some relaxation of a more educational nature.
Each individual that owns a condo unit has a document showing proof of their ownership of that residence. They are given this when the transaction to purchase the unit is completed. This document can be called by many names: Condominium Document, Master Deed, Declaration of Conditions, or Enabling Declaration.
The Master Deed will indicate that the current owner of the residential unit is the legitimate and bonafide owner of such condo unit. It also details the boundaries and limits of his/her ownership concerning the unit. Usually, ownership of a unit is restricted to the interior of the home unit only. In other words, whatever is inside the unit belongs to the owner. An owner cannot own anything immediately outside or adjacent to the condo unit he/she is living in.
In fact, whatever is outside the condo units are not under the ownership of the individual owners; rather, they are collectively maintained by a Homeowner's Association, if the condo developer has a provision for it. That said, each homeowner can be said to "own" shared spaces, but only because each of them contributes to monthly fees for the maintenance of these spaces. If this is the case, this is also indicated in the Master Deeds of each owner.
There are also Makati condominiums for sale where owners are not allowed to "own" any shared spaces outside their condo units. This rule is also provided for in each Master Deed. Yet, some condominiums do offer shared ownership of public spaces. This goes not only for passageways, elevators, stairs, and corridors, but also public amenities like gardens, parking lots, swimming pools, and others. In this case, groups of individual owners jointly "own" the entire condominium area. Condominiums with this kind of arrangement are typically called site condominiums.
Many condominiums like this allow their condo unit owners to own "common areas" like gardens, gymnasiums, pools, and the like; they are not owned by any single owner. These group of owners is usually called the Homeowner's Association, as we mentioned before.
A common layout feature of condominium units is the studio type layout. The studio type is where there are, at a minimum, two rooms: a bedroom and a bathroom. The bedroom is actually a "general purpose" room which can function as a study room, a living room, a small kitchen, and anything that the home unit owner decides to do to with it. This general purpose room is bigger than a regular-sized bedroom so that the owner can add more furniture to such as a study desk or more couches.
The studio type layout is best for singles who mostly live alone and those who are tight on budget, since this unit is inexpensive compared to other types. They are ideal for the "sleep and go" individuals who wish to live on a condo near their place of work. Because of these factors, and because most residents in Makati are single professionals, a lot of Makati condominiums for sale are designed this way simply because of their economic value to occupants, their convenience, and their simple functionality. Studio units are a great choice when you are trying to save money on your condo unit purchase.
Another type of layout is the single bedroom layout. As its name suggests, a condo unit with this layout has a built-in bedroom separate from the rest of the condo unit space. The bedroom has its own divisions from the living room, dining room, and the kitchen area. This is also more expensive than the studio type layout, because it generally takes up more space.
Other types of layouts include the multi-room layout, which has two, three, or more bedrooms built into the condo unit. This is ideal for big families and those who have chosen to live together to share the expenses of the group.
There are condo developers that have built condominiums which feature many kinds of layouts in a single condo building. An example of this would be the Shang Salcedo in Salcedo Village, Makati, which features studio, one-bedroom, and two-bedroom designs in their condo housing units. Another examples would be the Park Terraces in Makati, where they offer units having three bedrooms or more.
These are generally the layouts to choose from. When scouting for your own Makati condo unit, take your time and compare units with different layouts. This will give you a good idea what kind of unit layout you prefer living in the long run, and the cost associated with each layout. You can also do this by visiting the websites of condo developers.
Compared to other cities in Metro Manila, the cost of living in Makati is more expensive. This is also true for living there in condominiums. In fact, living in condo units in big cities is understandably expensive than living rural areas, but the convenience and luxury offered by condominiums is worth your financial investment. Despite its pricey status, Makati has everything you need for daily living and getting around the city is not too difficult.
You can easily access other cities within Metro Manila from Makati; either they're one MRT ride, or a jeepney ride away. If you have a job in Makati, it's better to be getting a condo inside the city than having to live outside of it. Manila's traffic jams and long distances are quite notorious.
When it comes to the cost of condo units, factors such as the quality, size, and the location of a condominium are taken into account. Of course, the better quality, the larger the size, and the proximity to prime business centers in Makati City make the cost of each condo unit much higher. Selling rates in Makati range from P90,000 up to P150,000 per square meter.
If you're living alone, a smaller, studio-type condo unit would be the most ideal. One the other hand, it would not be a good idea to purchase a studio layout unit if you have a large family.
If you're planning on living in a condominium for good, it would be better to save up for such a large investment. If you have enough money, you could also buy a second condo unit as a transit place.
A potential condo buyer should consider how long he/she wants to work in Makati, and what kind of lifestyle he/she should adopt. If the individual wants inexpensive and cost-effective living, a smaller, studio-type unit should be a good idea. As we said before, because Makati is populated by young and single working professionals, smaller condo units tend to be the ones that are purchased the most.
Location of a Makati condo for sale adds to the bonus factor. The buyer should consider the acceptable distance between his/her place of work and the condo unit. Most of the time, location is the number one consideration for most buyers.
The Master Deed, as we said before, holds the details of the transaction and the terms of your ownership of the condo unit. The Master Deed also records what you can or can't do within your condo unit. For example, you will need to find out if the condo developer forbids bringing in pets to any condo unit. This is a must for pet lovers, since if they choose this kind of condominium they won't get to enjoy the company of their pets.
As such, it is important to get acquainted with the developer's rules as stipulated in the Master Deed, so as not to break any of them. There are other common rules such as how long guests are expected to stay inside a residence, as well as who can stay inside the condominium. You might want to tone your potluck parties down a bit if the condominium has rules about excessive noise that might disturb other homeowners.
Aside from those, you'll need to check out other auxiliary services like phone and Internet connections, as well as cable television, if any.
You'll also need to take into account the maintenance costs of the Makati condos for sale. There are condominiums that allow for shared maintenance expenses among the homeowners, and there are others where the condo developers takes care of the general maintenance inside the condominium.
If you own a vehicle, it would be wise to check out if the condominium has parking areas available. If you are of the athletic type, you might want to see for yourself if the condominium has gymnasiums, swimming pools, sport courtyards, jogging facilities, and the like.
Lastly, you also need to check if the condo unit or even the condominium complex is currently embroiled in a legal problem. Doing so will help you avoid legal troubles as you try to buy your condo unit.
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